DC房地产公司融资案例研究
发布时间：2018-08-01 14:46
【摘要】：房地产行业是典型的资本密集型行业。在房地产开发过程中的各个阶段,房地产公司对融资有不同的需求。但房地产市场的融资渠道却显得较为滞后,没有合理、便捷的融资渠道,过度的依靠银行贷款。目前,银行为了降低风险,提高了银行开发贷的条件和要求。这对于本来就陷入融资困境的中小型房地产企业来说更是雪上加霜,使得其更加迫切需要银行外的融资渠道,以解决项目开发的资金问题。因此,关于房地产项目融资方式的探讨也就显得更为迫切。 本文先分析了国内外经典的融资理论,并作出了简要的总结分析。然后通过对房地产融资策略的比较研究,从微观角度对我国中小型房地产企业融资现状及其存在问题进行深入分析和比较论证。最后,通过DC房地产公司都市花园项目实例,并结合我国资本市场融资的实际情况,详尽分析了该企业在开发中期如何通过特定资产收益权的信托模式进行项目融资。通过对该企业的分析,希望能对我国其他中小房地产企业的融资起到一定的借鉴作用。最后得出结论：随着我国房地产市场的蓬勃发展,房地产企业对外融资的要求越来越高。通过信托模式融资,能够较好地解决房地产企业资金不足的问题。此外目前我国资本市场上一些其他的融资手段例如券商的定向资产管理计划、基金公司的专项资产管理计划,以及一些其他创新手段的多元化发展,形成了有效的房地产二级资本市场。它们都进一步分散了银行的信贷风险,促进了行业的健康发展。
[Abstract]:The real estate industry is a typical capital-intensive industry. In the process of real estate development, real estate companies have different needs for financing. However, the financing channel of real estate market is lagged behind, there is no reasonable and convenient financing channel, and excessive reliance on bank loans. At present, the bank in order to reduce the risk, improve the bank development loan conditions and requirements. This is even worse for the small and medium-sized real estate enterprises that are already in financing difficulties, which makes them need more financing channels outside the banks to solve the financing problem of project development. Therefore, the discussion about the real estate project financing way also appears to be more urgent. This article first analyzes the domestic and foreign classical financing theory, and makes the brief summary analysis. Then, through the comparative study of the real estate financing strategy, this paper makes a deep analysis and comparative demonstration on the present financing situation and the existing problems of the small and medium-sized real estate enterprises in China from the microcosmic point of view. Finally, through the example of DC real estate company's urban garden project and the actual situation of our country's capital market financing, this paper analyzes in detail how the enterprise carries out project financing through the trust mode of specific asset income right in the middle stage of development. Through the analysis of this enterprise, I hope it can be used for reference to other small and medium real estate enterprises in our country. Finally, the conclusion is drawn: with the booming development of real estate market in China, the external financing requirements of real estate enterprises are higher and higher. Through the trust mode of financing, can better solve the real estate enterprises lack of funds. In addition, at present, some other financing means in China's capital market, such as the targeted asset management plan of securities firms, the special asset management plan of fund companies, and the diversified development of some other innovative means, Has formed the effective real estate second-level capital market. They further spread the credit risk of banks, promoting the healthy development of the industry.
【学位授予单位】：北京交通大学
【学位级别】：硕士
【学位授予年份】：2014
【分类号】：F299.233.42
本文编号：2157915
[Abstract]:The real estate industry is a typical capital-intensive industry. In the process of real estate development, real estate companies have different needs for financing. However, the financing channel of real estate market is lagged behind, there is no reasonable and convenient financing channel, and excessive reliance on bank loans. At present, the bank in order to reduce the risk, improve the bank development loan conditions and requirements. This is even worse for the small and medium-sized real estate enterprises that are already in financing difficulties, which makes them need more financing channels outside the banks to solve the financing problem of project development. Therefore, the discussion about the real estate project financing way also appears to be more urgent. This article first analyzes the domestic and foreign classical financing theory, and makes the brief summary analysis. Then, through the comparative study of the real estate financing strategy, this paper makes a deep analysis and comparative demonstration on the present financing situation and the existing problems of the small and medium-sized real estate enterprises in China from the microcosmic point of view. Finally, through the example of DC real estate company's urban garden project and the actual situation of our country's capital market financing, this paper analyzes in detail how the enterprise carries out project financing through the trust mode of specific asset income right in the middle stage of development. Through the analysis of this enterprise, I hope it can be used for reference to other small and medium real estate enterprises in our country. Finally, the conclusion is drawn: with the booming development of real estate market in China, the external financing requirements of real estate enterprises are higher and higher. Through the trust mode of financing, can better solve the real estate enterprises lack of funds. In addition, at present, some other financing means in China's capital market, such as the targeted asset management plan of securities firms, the special asset management plan of fund companies, and the diversified development of some other innovative means, Has formed the effective real estate second-level capital market. They further spread the credit risk of banks, promoting the healthy development of the industry.
【学位授予单位】：北京交通大学
【学位级别】：硕士
【学位授予年份】：2014
【分类号】：F299.233.42
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